Solana's Latest Upgrade to Alleviate Network Congestion and Boost SOL's Prospects
Overview
The Solana (SOL) blockchain has been under scrutiny due to ongoing network congestion issues that led to transaction failures. The surge in meme coins has exacerbated the situation, raising concerns about Solana's competitiveness against Ethereum.
Solana's Upgrades
The Solana team has introduced Testnet v1.18.11 to alleviate congestion issues. The update is expected to improve network performance and enhance user experience upon deployment on the mainnet.
Price Impact
The network upgrade could potentially boost SOL's price as outages can erode confidence in blockchain technology. Despite recent challenges, SOL has maintained its momentum, benefitting from the bullish market sentiment and new developments on the platform.
Price Prediction
CoinCodex's AI predicts a bullish outlook for SOL, projecting price gains in the near future. The tool anticipates SOL trading at $150.98 by April 18 and $171.28 by May 13.
Market Analysis
SOL is currently trading at $142, with recent price fluctuations influenced by various factors. The future price trajectory of SOL will depend on market sentiment and broader cryptocurrency trends.
Disclaimer: The content provided is not investment advice. Investing involves risk.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.